U.S. Reaches Accord Over Forfeited Properties Tied to Iran
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A 36-story office tower in midtown Manhattan worth more than $500 million and six other properties will be sold to provide funds for terrorism-related judgments against the Iranian government under a settlement announced by the U.S.
The building at 650 Fifth Avenue is among assets owned by entities that were found to be serving as a front for Iran in violation of an American embargo and federal money-laundering laws. Proceeds from sales of those properties as well as holdings in bank accounts will be distributed among 20 creditors who have won judgments against Iran, Manhattan U.S. Attorney Preet Bharara said in a statement.